Navistar International has agreed to pay $135 million to truck owners to settle class action complaints over defective MaxxForce engines. “After years of hard-fought litigation, we believe this settlement represents an outstanding result for class members,” Selbin said in a statement. “We are also pleased Navistar stepped up to take care of its customers.”If the settlement is approved, class …
Class members can opt for a “no questions asked” payment of $2,500 per truck purchased, said attorney Jonathan Selbin, co-lead counsel for the plaintiffs in the case. The fallout from the MaxxForce line also led to several years of multi-billion dollar losses for Navistar. In an 8-K form filed Wednesday with the Securities and Exchange Commission, Navistar notified shareholders of the pending …
Truck maker Navistar has moved nearer the end of the road in a legal fight over whether it had misled investors about its chances to build a new truck engine both in line with federal emissions requirements and superior to those made by competitors, as a group of shareholders have asked a federal judge to sign off on a $9.1 million settlement deal. On Sept. 28, attorneys for the shareholders …
SUMMARY NOTICE OF PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT TO: ALL PERSONS AND ENTITIES WHO PURCHASED OR ACQUIRED COMMON STOCK OF NAVISTAR INTERNATIONAL CORPORATION (“NAVISTAR” OR THE “COMPANY”) (TICKER SYMBOL: NAV) BETWEEN March 10, 2010 and August 1, 2012, BOTH DATES INCLUSIVE (THE “CLASS PERIOD”). PLEASE READ THIS NOTICE CAREFULLY. YOUR RIGHTS MAY BE AFFECTED BY A CLASS ACTION …